Index Futures Net Changes and Settlements:
Foreign Markets, Fair Value and Volume:
- In Asia 6 out of 11 markets closed higher: Shanghai Comp -0.36%, Hang Seng +0.22%, Nikkei -1.29%
- In Europe 11 out of 13 markets are trading lower: CAC -0.75%, DAX -0.34%, FTSE -0.16%
- Fair Value: S&P +0.51, NASDAQ +12.64, Dow -25.34
- Total Volume: 1.59mil ESH & 661 SPH traded in the pit
Today’s Economic Calendar:
Today’s economic calendar includes Jobless Claims 8:30 AM ET, Tom Barkin Speaks 8:35 AM ET, Wholesale Trade 10:00 AM ET, EIA Natural Gas Report 10:30 AM ET, James Bullard Speaks 12:40 PM ET, Jerome Powell Speaks 12:45 PM ET, Charles Evans Speaks 1:00 PM ET, 30-Yr Bond Auction 1:00 PM ET, Neel Kashkari Speaks 1:20 PM ET, Fed Balance Sheet and Money Supply 4:30 PM ET, and Richard Clarida Speaks 7:00 PM ET.
S&P 500 Futures: #ES Targets 2600.00
After grinding higher in the overnight session, the S&P 500 futures opened yesterday’s cash session at 2583.25, and in the first 30 minutes traveled up to the morning high of 2590.25. The next move was a quick selloff back below the open, down to what would be the low of day, printing 2569.00 just after 9:45. From there, the equity futures rallied into the end of morning, making a late morning high of 2595.50.
After a 9.25 handle retracement during the noon hour, the ES again shot up to make the early afternoon high of 2596.75, however, news coming out of Trump’s meeting with Republican officials caused some quick selling down to 2580.25. The futures quickly recovered and rallied back up to 2593.00 heading into the final hour of the day.
The 2:00 hour saw a high print at 2593.25 before turning lower late in the session, pulling back down to 2580.25, then 2586.25 on the 3:00 cash close, and settling the day at 2582.25, up +9.75 handles, or +0.38%.
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